The owners of Greg's Department Store have reason to believe that one of their employees has been stealing from the store. In an interview with the police, the owner says that she is 75 percent sure that the employee is stealing. This probability is an example of one that was assessed using classical probability.

Question

Quizplus · Accepted Answer

The probability mentioned is an example of subjective probability because it is based on the owner's personal judgment and belief, not on a mathematical or statistical analysis of outcomes.

The Owners of Greg's Department Store Have Reason to Believe